When writing a business plan, it is important to follow a procedure. Writing a business plan seems laborious, especially if you don’t know where to start. Its purpose is to highlight a business opportunity. This document helps business owners to assess a problem or analyze the market need while presenting a solution. At the end of this phase, one can know more about the details of the items sold or services offered to customers.
What is the content of the business plan?
The business plan is a tool capable of presenting a plan of action. It evaluates the steps to be taken in order to set up and market a service or product offer. This essential step for the starting entrepreneur allows him to obtain a cash flow thanks to the action plans. During the drafting of the project, it will be necessary to put forward the financing as well as the profitability of the ambitions of the entrepreneurs.
A business strategy is composed of 7 parts: the summary, the company, the market study, the strategy, the products and services, the financial plan and the operation. The summary is a very important part that is 1 or 2 pages long. The summary contains different important elements of the project such as the activity, a presentation of the management teams, the company, the key figures related to the financial provision, the market and the need for financing.
Some tips for writing a convincing business plan
The business plan is an indispensable tool to convince a banker, find a partner or interest investors. This ten-page document aims to prove the sustainability of the project, attest to its solidity and convince future investors of the entrepreneur’s motivation.
The objective is to detail the professional project in a convincing, effective and punchy manner. To achieve this, the business plan must be substantiated and concrete, attractive and consistent, adapted to the recipient, contain a thorough risk analysis, and explain the vision of the future entrepreneur. A successful BP is a professional and successful document.
Commandments for creating an effective business plan
Before writing the business plan, it is essential to start with a market study. It is crucial that this indispensable step in the creation of a company be based on suppliers’ quotes. A conscientious entrepreneur writes his business plan by assessing seasonality.
When evaluating a project, the low season or possible bad seasons must be taken into account. It is also important to write a business plan with room for manoeuvre. The trick to facilitate the content of the document is to use a specific software program. Some tools are available online.